"Binance, the world's largest cryptocurrency exchange, paused withdrawals of the stablecoin USDC on Tuesday while it carried out a "token swap." USDC withdrawals were resumed about 8 hours after Binance first announced the pausing of withdrawals. Changpeng Zhao, CEO of Binance, tweeted on Tuesday that the exchange is seeing an increase in withdrawals of USDC."

Strategically timed 8 hour stoppages are not a sign things are going well.